European Case Study
 

The joint project between an independent European Retailer and Powerledger, a software provider for green energy solutions, and the local network operator provides the retailer’s customers with an opportunity to select their source of energy from participating generators. The projects support the retailer’s ambitions of providing customers with innovative services and offering them an opportunity to participate in the energy transition.

The solution has been available to several thousand customers since the middle of 2023 and can potentially expand across the retailer’s total customer base (several hundreds of thousands).

By utilizing the Powerledger Platform, customers receive details about the exact provenance and type of energy they consume, validated by smart meter readings. The software is based on a blockchain accounting system securely storing demand and generation readings. Energy transfers are recorded and settled at predefined time intervals.

Participants received access to a user interface enabling them to choose a preferred option, such as a colocated generator or the cheapest source within the community.

The case contributes to a well-connected network of energy market participants and displays the capabilities of a trading platform facilitating transactions between consumers and generators that favors and incentivizes green energy sources.

Project Information
 
City, Country
Countrywide over specific country in Europe
Duration (Start/End Dates)
2023 / On-going
Funding Source
Project Lead (Organisation)
Retailer in Europe
Project Partners
Retailer in Europe, Powerledger

Parameter

As designed

As built

No. of participants

Several thousand

Several thousand

Generation (kWp)

No limit

Exact generator ratings are unknown

Storage (kWh)

None

None

Unit price ($/kWh)

Same as grid price

Same as grid price

Project cost ($)

 

 

  • Impact 1: Enabling customers to select their preferred energy source amongst enrolled generators creating a closely connected network of energy market participants. This allows customers to participate in the energy transition and gives them a degree of control over the electricity they consume as well as a reduction in cost over their usual grid tariffs.
  • Impact 2: Demonstrating the application of blockchain for energy solutions. The project utilizes blockchain as a core component to securely store transaction outcomes in a decentralized way.
  • Impact 3: The platform presents electricity demand and generation in an appealing way which increases awareness and engagement with electricity markets and the energy transition. Additionally, it contributes to a more digitized energy system, providing insights into energy flows for retailers and network operators.
  • Impact 4: Incentivising the installation of additional renewable energy resources through more beneficial return on investment conditions through the opportunity to sell surplus energy at higher P2P rates rather than usual feed-in rates thereby increasing the overall installed capacity of renewables.

The collaborative project between Powerledger and the independent retailer focuses on pioneering P2P energy trading, aiming to create a new narrative around how energy is bought, sold, and consumed at the community level. A primary objective of this initiative is to harness blockchain technology to facilitate direct energy transactions between producers and consumers, thereby enhancing efficiency, transparency, and trust in the energy market. By leveraging Powerledger’s blockchain platform, the project seeks to enable the retailer’s customers to select their preferred energy sources and trade excess energy in real time, promoting renewable energy sources and contributing to environmental sustainability.

A key aim is to demonstrate the viability of P2P energy trading as a scalable and sustainable model that can be replicated across different regions and markets. Moreover, by facilitating more localized energy trading focused on small-scale renewable generators, the initiative aims to reduce reliance on traditional energy grids and foster a more decentralized, resilient, and sustainable energy ecosystem. Ultimately, the collaboration between Powerledger and the retailer represents a significant step forward in the transition toward a more democratized and sustainable energy future.

Data availability is a core problem for services of this type. It determines both the quality of the service and its commercial viability. For new pilots, the continuous availability of data has to be ensured before project start and required hardware/software has to provided to facilitate maintenance of the project.

It has to be identified how to come out of the pilot stage as no one has determined yet how to reach commercialization at a country-wide level. The requirement is to make the project economically viable across the country. In many cases the traction is getting lost after pilot but participating end customers are enquiring about next phase showcasing their interest.

A lack of education from the end-customer side is apparent, which no one is accountable for. For future projects, the government or state utility (a regulated entity) must take on the responsibility of educating participants (e.g. through a tender).  

What outcomes are anticipated from the pilot?

  • The main outcome anticipated is the provision of a degree of control for customers to select their preferred source of electricity and participate in the energy transition.

What outcomes were delivered by the pilot?

  • The project is still in an early stage of live trading, the full impact will be apparent and investigated at a later stage.

 

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